Minor damage cover specialists, Smart Insurance, and AMS Insurance Services have formed a partnership to provide a new asset protection product to the UK dealer market.
The product, called asset secure smart insurance, will be sold as part of AMS’s asset protection offering.
The new partnership promises to provide “fair products with fair rates at a fair price” to UK dealers and their customers.
The two companies believe there are additional growth opportunities through asset secure smart insurance.
“The values we share and the high level of service we offer makes this an ideal partnership,” said Mark Boote, managing director at Smart Insurance.
“For the past five or six years, product ratings have been geared towards the lowest possible rate rather than providing adequate protection at an appropriate premium. It’s the typical ‘what can I remove to make this cheaper’, rather than thinking about what consumers actually need.
“We know that competitor products are sometimes sold by hiding the exposure to the policy holder. This means the customer gets a cheap and cheerful product from the dealer, but it’s not the whole picture.
“We’re looking to change this mind-set by giving dealers products that have value for them and are completely focussed on treating customers fairly.”
Chris Reid, sales director at AMS, said: “Through strict regulation of our own businesses, we aim to bring the best service back to the customer. We do have significant growth plans for the next few years and Smart Insurance is the start of that.”